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g The declaration, record, and payment dates in connection with a cash dividend of $59,400 on a corporation's common stock are July 9, August 31, and October 1. Journalize the entries required on each
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21 votes
g The declaration, record, and payment dates in connection with a cash dividend of $59,400 on a corporation's common stock are July 9, August 31, and October 1. Journalize the entries required on each date.

User Hshepherd
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1 Answer

10 votes
10 votes

Answer:

Dr Retained earnings $59,400

Cr Dividend payable $59,400

August 31 No entry

October 1

Dr Dividend payable $59,400

Cr Cash $59,400

Step-by-step explanation:

Preparation of the journal entries required on each date.

July 9

Dr Retained earnings $59,400

Cr Dividend payable $59,400

August 31 No entry

October 1

Dr Dividend payable $59,400

Cr Cash $59,400

User Dmarvs
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